Finablr PLC Update on Proposed Transaction (1806C)
15 Ottobre 2020 - 8:58AM
UK Regulatory
TIDMFIN
RNS Number : 1806C
Finablr PLC
15 October 2020
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF EU REGULATION 596/2014.
15 October 2020
Finablr PLC (the "Company")
Update on Proposed Transaction
Further to the announcement on 6 October 2020 (the "6 October
Announcement"), the Company today announces an update on its
proposed sale of Finablr Limited to Prism Advance Solutions Limited
("Prism" and the "Transaction").
The Company's discussions with Prism are continuing as the
parties work together to determine an optimum structure for the
Transaction, taking into account all applicable regulation. The
proposed core terms of the Transaction remain those set out in the
6 October Announcement, namely the restructuring and settlement of
the debts of Finablr Limited and its subsidiaries, the provision of
working capital for Finablr Limited and its subsidiaries and the
restructuring of the board of Finablr Limited and its subsidiaries,
and will involve only nominal consideration being paid to Finablr
plc.
While the parties are working to resolve the detailed structure
and terms of the Transaction as soon as possible and within the
four-week period referred to in the 6 October Announcement, there
is no guarantee that definitive documentation will be entered into
within this timeline.
The Company will provide further updates to the market as
appropriate.
END
Enquiries
The Company
Bhairav Trivedi, Group Chief Executive Officer,
bhairav.trivedi@finablr.com Tel +1 (484) 358-7357
Robert Moorhouse, Group Company Secretary,
robert.moorhouse@finablr.com Tel +44 7825 213767
For more information, visit the Finablr website:
www.finablr.com
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END
UPDUVVNRRBURARA
(END) Dow Jones Newswires
October 15, 2020 02:58 ET (06:58 GMT)
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